AIB to offer upper tier II bond

AIB plans to issue a sterling upper tier II bond in the near future, the banks managing the sale said on Tuesday.

JP Morgan Cazenove and Lehman Brothers are joint bookrunners.

AIB is rated Aa3 by Moody’s Investors Service and A+ by Standard & Poor’s.

The bank last week raised its full-year earnings outlook after it reported a forecast-topping rise in half-year profit thanks to strong economies in its core Irish and British markets.